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That is the title of a paper from Costa-Font and Vilaplana-Prieto (2025). They find the the value is very large indeed.
Relative to a country’s Gross Domestic Product (GDP), the value of IC [informal care] ranges between 4.2% in France and 0.85% in Germany. Such relative value declines as the country’s share of formal LTC spending increases.
You can read the full paper here.
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